Negative salary payable
This query is : Resolved
Piyush Kulkarni
(Querist)
07 May 2013
In my payroll some employees have negative salary payable(net pay) because of notice pay and some other recoveries. How can i record journals in books.
Pradeep Agarwal
(Expert)
07 May 2013
Full & Final Settlement Dr
(under C.A. or C.L. net of F&F Payable)
To Notice Pay (P&L) Cr
(under C.A. or C.L. net of F&F Payable)
To Notice Pay (P&L) Cr
Piyush Kulkarni
(Querist)
08 May 2013
Can we show this as receivables from employee ( under CA) and credit notice pay recovery?
Piyush Kulkarni
(Querist)
08 May 2013
Can we show this as receivables from employee ( under CA) and credit notice pay recovery?
Piyush Kulkarni
(Querist)
08 May 2013
Can we show this as receivables from employee ( under CA) and credit notice pay recovery?
Pradeep Agarwal
(Expert)
08 May 2013
yes you can
22 June 2013
For negative pay debit the staff and credit the salary paid by you. In the next month reverse this entry when you recover this amount
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